Portugal to Expand Online Gambling Industry

Gaming insiders at CasinoWebScripts have information that the Portuguese government might take into consideration expanding the online gaming and betting in the country in an effort to increase the revenue stream for the state’s coffers. Lawmakers explained last week that they are intending to create an investigative group whose attributions will consist of conducting a study that will eventually reveal recommendations on how the internet gaming and betting industry in Portugal should be regulated. In order to do so, the group will analyze the regulated online gaming markets in Europe and will consider the recommendations of the European Parliament in regard to the industry.

A study conducted two years ago by a team of analysts unveiled that the Portuguese online gaming market could rake in significant revenue of up to a quarter million euros in tax for the state’s coffers. The government of Portugal has been affected by the recession and the expansion of the online gambling market will contribute in terms of jobs and tax revenue. Experts also explained that the European country should try to avoid creating heavy tax percentages that will be unattractive for operators seeking to create online casinos, while online players should be able to claim rebates for losses so that they would be encouraged to gamble at Portuguese online gaming sites.